Forex: GBP/USD still at highs after US falling confidence
Forex pairs in this Article »
GBP/USD
FXstreet.com (Barcelona) - The market is digesting the US January consumer confidence and today's upmove of the GBPUSD. Consumers in the US are less confident than expected, with the figure easing from 66.7 (revised from 65.1) to 58.6, instead of the 64.0 consensus.
After a short period of profit taking, the GBPUSD seems ready for more upside action, according to the current price movement, up to 1.5774 high.
"Hourly resistances can be found at 1.5827 (25/01/2013 high) and 1.5893 (21/01/2013 high)", wrote MIG Bank analyst Bijoy Kar, pointing to implied downside risk to 1.5356.
After a short period of profit taking, the GBPUSD seems ready for more upside action, according to the current price movement, up to 1.5774 high.
"Hourly resistances can be found at 1.5827 (25/01/2013 high) and 1.5893 (21/01/2013 high)", wrote MIG Bank analyst Bijoy Kar, pointing to implied downside risk to 1.5356.
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